Joseph_Yabwa
Long

CABLE IS LIKELY TO RALLY SOON! BUY GBPUSD

FX:GBPUSD   British Pound / U.S. Dollar
We have another contraction and expansion strategy here on the cable and there's a potential for over 250 pips rally in the next few days and this trade has a very good risk to reward ratio. You can either buy or wait for the first rally and then buy after the retracement. So I think we all know how money management is important in trading and when it comes to a trade like this, If I get in at the current entry price I never risk more than 1% of my account and some people might ask, so how the hell do I make profit if I just risk 1% of my account? Well, i'm glad you asked and the reason I do that is because with my strategy everything has to do with the odds so I only risk money on the line when the probability of winning is high, so the probability of this trade being a winning trade is only about 60% and is that good enough? For most people it is but I will not risk more than 1% of my account on such odds. Okay so Joseph, how do you make money then? Okay let me enlighten you, if this market rallies in the next day or so, it will retrace to a certain Fibonacci level and the it will rally again and so the probability of this market given me a second rally after the first retracement is more than 90% so that's where I make my money.....if you are smart you will figure that out.

That's all he wrote!
Comment: My last cable post

Comments

Good job mate
+1 Reply
Joseph_Yabwa UnknownUnicorn8150401
@UnknownUnicorn8150401, Thank you very much bro
Reply
Excellent Analysis And very well explained..interesting things
+1 Reply
@Pollard, I'm glad you actually read the description, i'm sure it will help you a lot
Reply
great work well-analyzed 👍
+1 Reply
Joseph_Yabwa TradingAxis
@TradingAxis, Thank you, i appreciate the feedback
Reply
Great Job well Analyzed bro
+1 Reply
Joseph_Yabwa simeonakila1
@simeonakila1, Thank you bro
Reply
Joseph_Yabwa simeonakila1
@simeonakila1, I appreciate the feedback
Reply
Great analysis sir
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out